CAUTIONARY NOTES AND TECHNICAL DISCLOSURES · es/mates referenced in this press release use the...
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1 All statements in this presenta/on, other than statements of historical fact, are "forward-looking informa/on" with respect to Pilot Gold within the meaning of applicable securi/es laws, including statements that address resource poten/al quan/ty and/or grade of minerals, poten/al size of a mineralized zone, poten/al expansion of mineraliza/on, the /ming of and results of future resource es/mates, /ming of explora/on and development plans and /ming of obtaining permits or comple/ng earn-in obliga/ons at the Company’s mineral projects. Forward-looking informa/on is oIen, but not always, iden/fied by the use of words such as "seek", "an/cipate", "plan", "con/nue", "planned", "expect", "project", "predict", "poten/al", "targe/ng", "intends", "believe", "poten/al", and similar expressions, or describes a "goal", or varia/on of such words and phrases or state that certain ac/ons, events or results "may", "should", "could", "would", "might" or "will" be taken, occur or be achieved. Forward-looking informa/on is not a guarantee of future performance and is based upon a number of es/mates and assump/ons of management at the date the statements are made including, among others, statements that address future mineral produc/on, reserve poten/al, poten/al size and/or grade of a mineralized zone, poten/al expansion of mineraliza/on, poten/al type(s) of mining opera/on; proposed /ming of explora/on and development plans at the Company’s mineral projects; /ming and likelihood of deployment of addi/onal drill rigs; successful delivery of results of metallurgical tes/ng; the release of an ini/al resource report on any of our proper/es; assump/ons about future prices of gold, copper, silver, and other metal prices, currency exchange rates and interest rates, metallurgical recoveries, favourable opera/ng condi/ons, poli/cal stability, obtaining governmental approvals and financing on /me, obtaining renewals for exis/ng licences and permits and obtaining required licences and permits, labour stability, stability in market condi/ons, availability of equipment, accuracy of any mineral resources, successful resolu/on of disputes and an/cipated costs and expenditures. Many assump/ons are based on factors and events that are not within the control of Pilot Gold and there is no assurance they will prove to be correct. Such forward-looking informa/on involves known and unknown risks, which may cause the actual results to be materially different from any future results expressed or implied by such forward-looking informa/on, including, but not limited to, reliance of technical informa/on provided by our joint venture partners or other third par/es, changes in project parameters as plans con/nue to be refined; inability to upgrade inferred mineral resources to indicated or measured mineral resources or subsequently reserves; possible varia/ons in grade or recovery rates; amount or /ming of proposed produc/on figures; current and proposed explora/on and development; the costs and /ming of explora/on and development of new deposits; failure of equipment or processes to operate as an/cipated; the failure of contracted par/es to perform; uses of funds in general including future capital expenditures, explora/on expenditures and other expenses for specific opera/ons; the ability to fund cash-calls made by TMST for ongoing expenditure at Halilağa, es/mated future working capital, the cost, /ming and success of explora/on ac/vi/es generally, including the development of new deposits, the /ming, /meline and possible outcome of permiTng or license renewal applica/ons; poten/al for high grade to recur beyond Kinsley’s Western Flank; the ability to maintain or convert the underlying licenses that comprise TV Tower and Halilağa in accordance with the requirements of the Turkish Mining Law, government regula/on of explora/on and mining opera/ons, environmental risks, including sa/sfac/on of requirements rela/ng to the periodic submissions of Environmental Impact Assessments, the uncertainty of nego/a/ng with foreign governments, expropria/on or na/onaliza/on of property without fair compensa/on, adverse determina/on or rulings by governmental authori/es delays in obtaining governmental approvals, government regula/on of explora/on and mining opera/ons, and the applica/on thereof in accordance with the rule of law, possible claims against the Company or its joint venture partners, the impact of archaeological, cultural or environmental studies within property areas, /tle disputes or claims, limita/ons on insurance coverage, the interpreta/on and actual results of historical produc/on at certain of our explora/on proper/es, changes in project parameters as plans con/nue to be refined; current economic condi/ons; future prices of commodi/es; possible varia/ons in grade or recovery rates; failure of equipment or processes to operate as an/cipated; the failure of contracted par/es to perform; labour disputes and other risks of the mining industry; delays in obtaining governmental approvals, financing or in the comple/on of explora/on as well as those factors discussed in the Company’s Annual Informa/on Form ("AIF") for the year ended December 31, 2015, dated March 18, 2016 under Pilot Gold’s SEDAR profile at www.sedar.com . Although Pilot Gold has acempted to iden/fy important factors that could cause actual ac/ons, events or results to differ materially from those described in forward-looking informa/on, there may be other factors that cause ac/ons, events or results not to be as an/cipated, es/mated or intended. There can be no assurance that such informa/on will prove to be accurate as actual results and future events could differ materially from those an/cipated in such statements. Pilot Gold disclaims any inten/on or obliga/on to update or revise any forward- looking informa/on, whether as a result of new informa/on, future events or otherwise. Accordingly, readers should not place undue reliance on forward-looking informa/on. Moira Smith, Ph.D., P.Geo, Chief Geologist, Pilot Gold, and Qualified Person under Na/onal Instrument 43-101 ("NI 43-101"), has reviewed and approved the contents of this presenta/on. Unless stated otherwise, informa/on of a scien/fic or technical nature in this presenta/on regarding the TV Tower, Halilaga, Kinsley Mountain or Goldstrike proper/es are summarized, derived or extracted from, the following technical reports: • “Independent Technical Report for the TV Tower Explora/on Property, Canakkale, Western Turkey", effec/ve January 21, 2014 and dated February 20, 2014, co-authored by Casey M. Hetman, P.Geo. with SRK Consul/ng (Canada) Inc.; James N.Gray, P. Geo. of Advantage Geoservices Ltd., and Gary Simmons, BSc, Metallurgical Engineering, of GL Simmons Consul/ng LLC.; • "Revised Preliminary Economic Assessment Technical Report Halilaga Project, Turkey", effec/ve December 20, 2014 and dated February 16, 2015, prepared by JDS Energy & Mining Inc. with input from SRK Consul/ng (Canada), GL Simmons Consul/ng LLC, Kirkham Geosystems Ltd., and Advantage Geoservices Ltd.(as updated by the Company’s news release dated January 29, 2015); and • “Updated Technical Report and Es/mated Mineral Resources for the Kinsley Project, Elko and White Pine Coun/es, Nevada, U.S.A.” effec/ve October 15, 2015 and dated December 16, 2015 prepared by Michael Gus/n, CPG, Moira Smith, Ph.D., P.Geo. And Gary L. Simmons, MMSA QP; and • “Technical Report on the Goldstrike Project, Washington County, Utah, U.S.A.” effec/ve April 1, 2016 and dated October 7, 2016 prepared by Michael Gus/n, CPG and Moira Smith, Ph.D., P.Geo. The technical reports for TV Tower, Halilaga and Kinsley Mountain have been filed under the Company’s issuer profile on SEDAR at www.sedar.com . Technical informa/on pertaining to Goldstrike has been summarized from news releases prepared by or under the supervision of Moira Smith, and are available under Pilot Gold’s SEDAR profile at www.sedar.com , or on Pilot Gold’s website at www.pilotgold.com Goldstrike, Black Pine and Baxter Springs are early-stage explora/on projects and do not contain any mineral resource es/mates as defined by NI 43-101. The poten/al quan//es and grades disclosed herein are conceptual in nature and there has been insufficient explora/on to define a mineral resource for the targets disclosed herein. It is uncertain if further explora/on will result in these targets being delineated as a mineral resource. Legacy data was developed by previous operators of the respec/ve projects. Pilot Gold is providing this legacy data for informa/onal purposes only, and gives no assurance as to its reliability and relevance to the Company’s current results and proposed explora/on programs. Pilot Gold has not completed any quality assurance program or applied quality control measures to the legacy data, nor has a Qualified Person done sufficient work to verify the source of the legacy data. Legacy data prdates the introduc/on of Na/onal Instrument 43-101 and/or was developed by other operators, and accordingly, should not be relied upon. The Company expects to expose, map and sample targets on these proper/es to becer define and validate results ahead of subsequent drilling. Cau$onary Note to United States Investors Concerning Es$mates of Measured, Indicated and Inferred Resources Mineral resources that are not mineral reserves do not have demonstrated economic viability. Mineral resource es/mates do not account for mineability, selec/vity, mining loss and dilu/on. These mineral resource es/mates include inferred mineral resources that are normally considered too specula/ve geologically to have economic considera/ons applied to them that would enable them to be categorized as mineral reserves. There is also no certainty that these inferred mineral resources will be converted to measured and indicated categories through further drilling, or into mineral reserves, once economic considera/ons are applied. The mineral resource es/mates referenced in this press release use the terms “Indicated Mineral Resources” and “Inferred Mineral Resources”. While these terms are defined in and required by Canadian regula/ons (under NI 43-101), these terms are not recognized by the U.S. Securi/es and Exchange Commission (“SEC”). "Inferred Mineral Resources" have a great amount of uncertainty as to their existence, and great uncertainty as to their economic and legal feasibility. The SEC normally only permits issuers to report mineraliza/on that does not cons/tute SEC Industry Guide 7 compliant “reserves” as in-place tonnage and grade without reference to unit measures. U.S. investors are cau/oned not to assume that any part or all of mineral deposits in these categories will ever be converted into reserves. Pilot Gold is not an SEC registered company. CAUTIONARY NOTES AND TECHNICAL DISCLOSURES
Transcript of CAUTIONARY NOTES AND TECHNICAL DISCLOSURES · es/mates referenced in this press release use the...
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All statements in this presenta/on, other than statements of historical fact, are "forward-looking informa/on"with respect to Pilot Gold within themeaning of applicable securi/es laws, including statements that addressresourcepoten/alquan/tyand/orgradeofminerals,poten/alsizeofamineralizedzone,poten/alexpansionofmineraliza/on, the /ming of and results of future resource es/mates, /ming of explora/on and developmentplans and /ming of obtaining permits or comple/ng earn-in obliga/ons at the Company’s mineral projects.Forward-lookinginforma/onisoIen,butnotalways,iden/fiedbytheuseofwordssuchas"seek","an/cipate","plan", "con/nue", "planned", "expect", "project", "predict", "poten/al", "targe/ng", "intends", "believe","poten/al", and similar expressions,ordescribesa "goal", or varia/onof suchwordsandphrasesor state thatcertain ac/ons, events or results "may", "should", "could", "would", "might" or "will" be taken, occur or beachieved.Forward-lookinginforma/onisnotaguaranteeoffutureperformanceandisbaseduponanumberofes/mates and assump/ons of management at the date the statements are made including, among others,statementsthataddressfuturemineralproduc/on,reservepoten/al,poten/alsizeand/orgradeofamineralizedzone,poten/alexpansionofmineraliza/on,poten/altype(s)ofminingopera/on;proposed/mingofexplora/onanddevelopmentplansattheCompany’smineralprojects;/mingandlikelihoodofdeploymentofaddi/onaldrillrigs;successfuldeliveryofresultsofmetallurgical tes/ng;thereleaseofan ini/alresourcereportonanyofourproper/es; assump/ons about future prices of gold, copper, silver, and othermetal prices, currency exchangerates and interest rates, metallurgical recoveries, favourable opera/ng condi/ons, poli/cal stability, obtaininggovernmentalapprovalsandfinancingon/me,obtainingrenewalsforexis/nglicencesandpermitsandobtainingrequiredlicencesandpermits,labourstability,stabilityinmarketcondi/ons,availabilityofequipment,accuracyofany mineral resources, successful resolu/on of disputes and an/cipated costs and expenditures. Manyassump/onsarebasedonfactorsandeventsthatarenotwithinthecontrolofPilotGoldandthereisnoassurancetheywillprovetobecorrect.Such forward-looking informa/on involvesknownandunknown risks,whichmaycause theactual results tobemateriallydifferentfromanyfutureresultsexpressedor impliedbysuchforward-lookinginforma/on, including,butnotlimitedto,relianceoftechnicalinforma/onprovidedbyourjointventurepartnersorotherthirdpar/es,changesinprojectparametersasplanscon/nuetoberefined;inabilitytoupgradeinferredmineralresourcestoindicatedormeasuredmineralresourcesorsubsequentlyreserves;possiblevaria/onsingradeorrecoveryrates;amountor/mingofproposedproduc/onfigures;currentandproposedexplora/onanddevelopment;thecostsand /ming of explora/on and development of new deposits; failure of equipment or processes to operate asan/cipated; the failure of contracted par/es to perform; uses of funds in general including future capitalexpenditures,explora/onexpendituresandotherexpenses for specificopera/ons; theability to fundcash-callsmadebyTMSTforongoingexpenditureatHalilağa,es/matedfutureworkingcapital,thecost,/mingandsuccessofexplora/onac/vi/esgenerally, including thedevelopmentofnewdeposits, the/ming,/melineandpossibleoutcomeofpermiTngorlicenserenewalapplica/ons;poten/alforhighgradetorecurbeyondKinsley’sWesternFlank;theabilitytomaintainorconverttheunderlyinglicensesthatcompriseTVTowerandHalilağainaccordancewith the requirementsof theTurkishMiningLaw,government regula/onofexplora/onandminingopera/ons,environmentalrisks, includingsa/sfac/onofrequirementsrela/ngtotheperiodicsubmissionsofEnvironmentalImpactAssessments,theuncertaintyofnego/a/ngwithforeigngovernments,expropria/onorna/onaliza/onofproperty without fair compensa/on, adverse determina/on or rulings by governmental authori/es delays inobtaining governmental approvals, government regula/on of explora/on and mining opera/ons, and theapplica/on thereof inaccordancewith the ruleof law,possibleclaimsagainst theCompanyor its jointventurepartners, the impactofarchaeological, culturalorenvironmental studieswithinpropertyareas,/tledisputesorclaims,limita/onsoninsurancecoverage,theinterpreta/onandactualresultsofhistoricalproduc/onatcertainofourexplora/onproper/es, changes inprojectparametersasplans con/nue tobe refined; currenteconomiccondi/ons; futurepricesof commodi/es;possiblevaria/ons ingradeor recovery rates; failureofequipmentorprocessestooperateasan/cipated;thefailureofcontractedpar/estoperform;labourdisputesandotherrisksoftheminingindustry;delaysinobtaininggovernmentalapprovals,financingorinthecomple/onofexplora/onaswellasthosefactorsdiscussedintheCompany’sAnnual Informa/onForm("AIF")fortheyearendedDecember31,2015,datedMarch18,2016underPilotGold’sSEDARprofileatwww.sedar.com.AlthoughPilotGoldhasacemptedtoiden/fyimportantfactorsthatcouldcauseactualac/ons,eventsorresultstodiffermaterially fromthosedescribed in forward-looking informa/on, theremaybeother factors that causeac/ons,eventsor resultsnot tobeasan/cipated,es/matedor intended.Therecanbenoassurance that suchinforma/on will prove to be accurate as actual results and future events could differ materially from those
an/cipated insuchstatements.PilotGolddisclaimsany inten/onorobliga/ontoupdateorreviseanyforward-looking informa/on, whether as a result of new informa/on, future events or otherwise. Accordingly, readersshouldnotplaceunduerelianceonforward-lookinginforma/on.
MoiraSmith,Ph.D.,P.Geo,ChiefGeologist,PilotGold,andQualifiedPersonunderNa/onalInstrument43-101("NI43-101"),hasreviewedandapprovedthecontentsofthispresenta/on.
Unlessstatedotherwise,informa/onofascien/ficortechnicalnatureinthispresenta/onregardingtheTVTower,Halilaga, Kinsley Mountain or Goldstrike proper/es are summarized, derived or extracted from, the followingtechnicalreports:• “IndependentTechnicalReportfortheTVTowerExplora/onProperty,Canakkale,WesternTurkey",effec/ve
January21,2014anddatedFebruary20,2014,co-authoredbyCaseyM.Hetman,P.Geo.withSRKConsul/ng(Canada) Inc.; JamesN.Gray, P.Geo. ofAdvantageGeoservices Ltd., andGary Simmons, BSc,MetallurgicalEngineering,ofGLSimmonsConsul/ngLLC.;
• "RevisedPreliminaryEconomicAssessmentTechnicalReportHalilagaProject,Turkey",effec/veDecember20,2014 and dated February 16, 2015, prepared by JDS Energy&Mining Inc.with input from SRKConsul/ng(Canada),GLSimmonsConsul/ngLLC,KirkhamGeosystemsLtd.,andAdvantageGeoservicesLtd.(asupdatedbytheCompany’snewsreleasedatedJanuary29,2015);and
• “Updated Technical Report and Es/matedMineral Resources for the Kinsley Project, Elko andWhite PineCoun/es, Nevada, U.S.A.” effec/ve October 15, 2015 and dated December 16, 2015 prepared byMichaelGus/n,CPG,MoiraSmith,Ph.D.,P.Geo.AndGaryL.Simmons,MMSAQP;and
• “Technical Report on the Goldstrike Project,Washington County, Utah, U.S.A.” effec/ve April 1, 2016 anddatedOctober7,2016preparedbyMichaelGus/n,CPGandMoiraSmith,Ph.D.,P.Geo.
The technical reports forTVTower,HalilagaandKinsleyMountainhavebeenfiledunder theCompany’s issuerprofileonSEDARatwww.sedar.com. Technical informa/onpertainingtoGoldstrikehasbeensummarizedfromnewsreleasespreparedbyorunderthesupervisionofMoiraSmith,andareavailableunderPilotGold’sSEDARprofileatwww.sedar.com,oronPilotGold’swebsiteatwww.pilotgold.comGoldstrike, Black Pine and Baxter Springs are early-stage explora/on projects and do not contain any mineralresourcees/matesasdefinedbyNI43-101.Thepoten/alquan//esandgradesdisclosedhereinareconceptualinnatureandtherehasbeeninsufficientexplora/ontodefineamineralresourceforthetargetsdisclosedherein.Itisuncertainiffurtherexplora/onwillresultinthesetargetsbeingdelineatedasamineralresource.
Legacydatawasdevelopedbypreviousoperatorsoftherespec/veprojects.PilotGoldisprovidingthislegacydataforinforma/onalpurposesonly,andgivesnoassuranceastoitsreliabilityandrelevancetotheCompany’scurrentresults and proposed explora/on programs. Pilot Gold has not completed any quality assurance program orappliedqualitycontrolmeasurestothelegacydata,norhasaQualifiedPersondonesufficientworktoverifythesource of the legacy data. Legacy data prdates the introduc/on of Na/onal Instrument 43-101 and/or wasdevelopedbyotheroperators,andaccordingly,shouldnotbereliedupon.TheCompanyexpectstoexpose,mapandsampletargetsontheseproper/estobecerdefineandvalidateresultsaheadofsubsequentdrilling.Cau$onaryNotetoUnitedStatesInvestorsConcerningEs$matesofMeasured,IndicatedandInferredResources
Mineralresourcesthatarenotmineralreservesdonothavedemonstratedeconomicviability.Mineralresourcees/matesdonotaccount formineability, selec/vity,mining lossanddilu/on.Thesemineral resourcees/matesinclude inferredmineral resources that are normally considered too specula/ve geologically to have economicconsidera/onsapplied to themthatwouldenable themtobecategorizedasmineral reserves.There isalsonocertainty that these inferredmineral resourceswillbeconverted tomeasuredand indicatedcategories throughfurther drilling, or into mineral reserves, once economic considera/ons are applied. The mineral resourcees/mates referenced in this press release use the terms “IndicatedMineral Resources” and “InferredMineralResources”.WhilethesetermsaredefinedinandrequiredbyCanadianregula/ons(underNI43-101),thesetermsarenotrecognizedbytheU.S.Securi/esandExchangeCommission(“SEC”)."InferredMineralResources"haveagreatamountofuncertaintyastotheirexistence,andgreatuncertaintyastotheireconomicandlegalfeasibility.The SEC normally only permits issuers to report mineraliza/on that does not cons/tute SEC Industry Guide 7compliant “reserves” as in-place tonnage and grade without reference to unit measures. U.S. investors arecau/onednot toassumethatanypartorallofmineraldeposits in thesecategorieswilleverbeconverted intoreserves.PilotGoldisnotanSECregisteredcompany.
CAUTIONARYNOTESANDTECHNICALDISCLOSURES
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INVESTMENTHIGHLIGHTSPROJECTS• FocusedonCarlin-stylegoldadvancedexplora/onprojectsintheU.S.
- Goldstrike–Utah(100%)- BlackPine–Idaho(100%)- Kinsley–Nevada(79%)- BaxterSprings–Nevada(100%)
• Ac/velylookingtoacquireaddi$onalgolddepositsandprojectsinNorthAmericawithnear-termproduc/onpoten/al
• Assessingstrategicop/onsforTurkishassetporrolio
PEOPLE
• Proventechnical&managementteamwithtrackrecordofsuccess• Teamhasdiscoveredand/oradvancedsevendepositsthatarenowindevelopmentorproduc/on
• SameteamthatadvancedLongCanyon
- 3.4Mozsgrading2.2g/tinresources&reservesthatFronteersoldtoNewmontforUS$2.3Bin2011
CAPITALMARKETS• Strongcashposi/on(C$14.4MBoughtDealFinancingcompletedNovember16,2016)andsupportedbylargestrategicshareholderbase(Newmont&Teck)
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MANAGEMENTTEAM&BOARDOFDIRECTORS
BoardofDirectors
CalEvere`–President,CEO&Director• Founder,President&CEOofAxemenResourceCapital
• Ins/tu/onalSales&CapitalMarketsatPIFinancial• InvestmentAdvisoratBMONesbicBurnsMarkO’Dea–ChairmanoftheBoard• Co-FounderofOxygenCapitalCorp.• FormerExecu/veChairmanofTrueGoldMining• Founder,FormerPresident&CEOofFronteerGold&AuroraEnergy
RobPease–Director• FormerPresident&CEOofSabinaGold&Silver• FormerPresident&CEOofTerraneMetals
DonaldMcInnes–Director• Co-FounderofOxygenCapitalCorp.• Execu/veViceChairman,AlterraPowerCorp.• FormerDirectorofFronteerGold
SeanTetzlaff–Director• Co-FounderofOxygenCapitalCorp.• CFOofPureGoldMining• FormerCFOofFronteerGold&AuroraEnergy
ManagementTeam
JohnWenger–CFO&CorporateSecretary• FormerManager,Ernst&Young(Miningteam)MoiraSmith–VPExplora$on&Geoscience• FormerChiefGeologist,NevadaforFronteerGold(LongCanyonProject)
• FormerUSExplora/onManagerforTeckforseveralhigh-profile,advanced-stageprojects(Pogo,ElLimon,Petaquilla)
EvelynCox–DirectorCorporateCommunica$ons• FormerVPCorporateCommunica/onsatAlderonIronOreandKing&BayWest(formerlyForbesWest)
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CAPITALSTRUCTURE
AnalystCoverage
JeffKilleen416.956.6218
TyronBreytenbach416.943.6747
MickCarew604.697.6006
MichaelGray604.639.6372
ShaneNagle416.869.7936
DanRollins416.842.9893
CapitalStructure(asatJan5,2017exceptwhereotherwisenoted)
SharesOutstanding 150.0million
Op/onsOutstanding 11.4million
WarrantsOutstanding 20.8million
FullyDilutedShares* 182.2million
CashonHand(asofSept30,2016)** ~C$18.7million
MarketCap(basedonTSXpriceofC$0.51) ~C$76.5million
KeyShareholders
NewmontMining 9.2%
TeckResources 5.3%
Management&Insiders 7.2%
*Includes396,984RSUs&408,000DSUs**IncludesrecentlycompletedboughtdealfinancingofC$14.4M
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REGIONAL-SCALEOXIDEGOLDSYSTEMS
• Goldstrike(1988–1994produc/on)(1)⁻ 209,000ozhistoricalproduc$onat1.2g/tAu⁻ 22km2drilltargetarea⁻ Infill&step-outdrillingcommencedMarch2016(ongoing)
• BlackPine(1991–1998produc/on)(2)⁻ 435,000ozhistoricalproduc$onat0.7g/tAu⁻ 12km2targetarea⁻ Datacompila/onunderway
• Kinsley(1995–1999produc/on)(3)⁻ Maidengoldresourcees/mate:405,000ozgrading2.27g/tAuIndicated&122,000ozgrading1.13g/tAuInferred
⁻ 138,000ozhistoricalproduc$onat1.4g/tAu⁻ 10km2targetarea
• BaxterSprings(nohistoricproduc/on)(2)⁻ Drillresultshighlight:33.5mgrading22g/tAu
(1) FurtherinformaPononGoldstrikeisavailableinthetechnicalreportenPtled“TechnicalReportontheGoldstrikeProject,WashingtonCounty,Utah,U.S.A.”,effecPveApril1,2016anddatedOctober7,2016,preparedbyMichaelM.GusPn,Ph.D.,CPGandMoiraSmith,Ph.D.,P.Geo.underPilotGold’sissuerProfileonSEDAR(www.sedar.com).
(2) HistoricdrillholeresultswerecompletedpriortotheimplementaPonofNaPonalInstrument43-101.AdiscussionandcauPonarylanguageregardinghistoricdatacanbefoundunder“CauPonaryNotesandTechnicalDisclosures”inthispresentaPon.
(3) FurtherinformaPononKinsleyisavailableinthetechnicalreportenPtled"UpdatedTechnicalReportontheKinsleyProject,ElkoCounty,Nevada,U.S.A.",effecPveMarch1,2015anddatedMarch19,2015,preparedbyMichaelM.GusPn,Ph.D.,CPG,MoiraSmith,Ph.D.,P.Geo.andGaryL.Simmons,MMSAunderPilotGold'sIssuerProfileonSEDAR(www.sedar.com).
Goldstrike
BaxterSprings
BlackPine
Kinsley
DrumAntelope
Griffon
Anchor
Viper
SandyEaster
BrikStateline
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GOLDSTRIKE–Utah
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GOLDSTRIKEPASTPRODUCERWITHPROVENUPSIDE
• PilotGoldacquired100%ofthedistrictscale,oxidegoldGoldstrikepropertyin2014throughitsacquisi/onofCadillacMining(1)forC$7.2million(allshareacquisi/on)
• Pastproducer–openpit,heapleachopera$on(1988–1994)- 209,000ouncesgoldproducedatanaveragegradeof1.2g/tgold
- Produc/onfrom12shallowpits- Historicalrunofmineand2inchcrushblendwithgoldrecoveryof75%
- Sitefullyreclaimed
• 1,519historicaldrillintercepts- 84%ofhistoricaldrillholescontaineddetectablegold
• Mainstra/graphichostcontainsgoldmineraliza$oneverywherethatitisexposedonsurface
• Goldmineraliza$oncon$nuesdowndipofhistoricpitsundershallowcover
• Objec/veofthe2016drillprogramistoadvanceGoldstriketoaresourcees/mateinQ12017
HistoricMineTrend(14km2)
kilometres
21
(1) SeepressreleasedatedAugust29,2014forfurtherdetails
MainArea
LookingENE100metres
A
A’
A
Au(gpt)
A’
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GOLDSTRIKE2015&2016DRILLPROGRAM
• Drillingon-going,targe/ngshallowoxidegoldmineraliza/onwithinthe14km2“HistoricMineTrend”
• Scopeofprogramopen-ended–currentlytwodrillsonsite
• Holestoaverage~150metresinlength
• Drillhighlightsfrom2015&2016include(1):- 2.72g/tgoldover18.3minPGS012- 2.10g/tgoldover35.1minPGS019,including4.42g/tgoldover13.7m- 1.19g/tgoldover57.9minPGS026- 1.14g/tgoldover47.2minPGS027- 1.85g/tgoldover30.5minPGS041C,including2.63g/tgoldover18.3m- 1.06g/tgoldover47.2minPGS044C- 3.28g/tgoldover38.1minPGS048- 2.64g/tgoldover41.4minPGS051C,including3.22g/tgoldover32.0m- 2.24g/tgoldover58.8minPGS054C,including2.77g/tgoldover36.2m- 0.96g/tgoldover76.2minPGS058- 1.08g/tgoldover45.7minPGS097- 0.86g/tgoldover67.1minPGS104- 1.20g/tgoldover22.9minPGS117,including2.48g/tgoldover6.1m
(1) SeepressreleasesdatedJanuary14th,April12th,May10th,May24th,June17th,June27th,August31st,October6thandDec1st2016forfurtherdetails
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GOLDSTRIKEMAINAREADRILLING
B
B’
C
C’
A
A’
10
PegLegGraben
GoldStrikeGraben MioceneTuff
EoceneClaronFormaPon
HassayampaFault
HamburgFault
ArsenicGulchFault
PaleozoicCarbonateRocks
EoceneClaronFormaPon
MioceneTuff
PaleozoicCarbonateRocks
PGS054C:2.24g/tAuover58.8m
PGS051C:2.64g/tAuover41.1m
LookingSoutheast
HighGradePodStarterPitPoten/al
GOLDSTRIKE2016MAINAREADRILLING–AGGIESECTION(A-A’)
A A’
11
GoldstrikeGrabenDipSlopeTarget
MioceneTuff
HassayampaFault
Open EoceneClaronFormaPon
PaleozoicCarbonateRocks
HamburgFault
UnminedIntercepts
PGS008:1.68g/tAuover22.9m
PGS046C:0.87g/tAuover45.4m
LookingSoutheast
EoceneClaronFormaPon
Target
GOLDSTRIKEMAINAREADRILLING–CORESHACKSECTION(B-B’)
DipSlopeTargettobedrilltestedupto350mfromedgeofcurrentdrilling
B B’
12
DipSlopeTarget
EoceneClaronFormaPon
PaleozoicCarbonateRocks
HassayampaFault
MioceneTuff
PaleozoicCarbonateRocks
GoldstrikeGraben
OPEN
EoceneClaronFormaPon
PGS048:3.28g/tAuover38.1m
PGS019:2.10g/tAuover35.1m
LookingSoutheast
HighGradePodStarterPitPoten/al
GOLDSTRIKEMAINAREADRILLING–OCTOPADSECTION
DipSlopeTargettobedrilltestedupto350mfromedgeofcurrentdrilling
C C’
13
GOLDSTRIKENEAR-TERMFUTUREDRILLING
14
• Resultsofcyanidesolubleassayingforthetencoreholesshownbelow(1)- Mostholescontainoxidegoldwithaveryhighpercentageofcyanidesolublegold–8outof10coreholesreturnedaverageof88.4%cyanidesolubility
• FinalresultsareexpectedinQ12017- Compositesformetallurgicaltes/ng,includingcolumntes/ng,comminu/ontestworkandboclerolltest,arebeingprepared
HoleID(Az,Dip)(degrees) From(m) To(m) Intercept
(m)Au(g/t)
FA AuCN AuCN% Comments
PGS041C(52,-60) 71.0 101.5 30.5 1.85 1.08 58.4% transi/onalPGS044C(275,-63) 66.4 113.7 47.2 1.06 0.96 90.5%
oxideand 119.3 135.0 15.7 0.47 0.40 85.4%
PGS046C(180,-55) 103.3 124.4 19.8 0.87 0.06 6.5% sulphideand 124.4 148.7 25.9 0.85 0.82 96.1% oxideand 173.1 177.7 4.6 0.25 0.25 100.0% oxidePGS051C(275,-82) 110.3 151.5 41.1 2.64 2.57 97.1% oxidePGS054C(60,-68) 81.7 140.5 58.8 2.24 2.11 94.4% oxidePGS056C(245,-58) 114.1 145.7 31.5 0.36 0.29 80.2% oxidePGS059CA(0,-90) 51.1 80.6 29.5 0.46 0.38 82.5% oxidePGS063C(220,-60) 104.2 115.8 11.6 0.36 0.27 75.7% oxide/transi/onalPGS067C(140,-60) 112.3 133.7 21.3 0.49 0.40 81.6%
oxideand 159.7 187.8 28.0 0.52 0.46 88.4%
PGS073C 95.8 138.5 42.7 0.50 0.15 30.0% transi/onal
(1) SeepressreleasedatedAugust4,2016forfurtherdetails.
GOLDSTRIKECYANIDESOLUBLEASSAYINGSUPPORTSLEACHABILITY
15
BOTTOMLINEBuildingshareholdervaluewithprovenmanagement,technicalfocusandhigh-qualityprojects.
PROJECTS
• Locatedinexcellentminingjurisdic/onswithdistrictwidepoten/al
• FocusedonCarlin-stylegoldadvancedexplora/onprojectsintheU.S.(mainlyGoldstrike)
• Assessingstrategicop/onsforTurkishassetporrolio
UPCOMINGCATALYSTS
• Closingofboughtdealfinancing(Nov2016)• DrillresultsfromGoldstrike(ongoing)
• 2drillsopera/ngatGoldstrikewith11monthcon/nuousprogram(Feb2017)• FinalmetallurgicalresultsfromGoldstrike(Q12017)
• PlanofOpera/onforGoldstrike–willallowforaddi/onaldrills(Q12017)• Compila/onresultsofhistoricaldatafromBlackPine(Q12017)
• ResourceEs/matefromGoldstrike(Q22017)
CorporateInquiries604.632.4677
PLG:TSX
1900–1055WestHas/ngsStreet
Vancouver,BCV6E2E9www.pilotgold.com
